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It was only in the late 1980s that West Germany's economy finally began to grow more rapidly. The growth rate for West German GDP rose to 3.7 percent in 1988 and 3.6 percent in 1989, the highest levels of the decade. The unemployment rate also fell to 7.6 percent in 1989, despite an influx of workers from abroad.
The economy of Germany is a highly developed social market economy. [ 24] It has the largest national economy in Europe, the third-largest by nominal GDP in the world, and fifth by GDP (PPP). Due to a volatile currency exchange rate, Germany's GDP as measured in dollars fluctuates sharply.
Industrialization in Germany was the phase of the breakthrough of industrialization in Germany, beginning at the time from around 1815 to 1835. [ 1][ 2] This period was preceded by the periods of pre-industrialization and early industrialization. In general, the decades between the 1830s and 1873 are considered the phase of industrial take off.
The economy of the German Democratic Republic (East Germany; GDR, DDR) was a command economy following the model of the Soviet Union based on the principles of Marxism-Leninism. Sharing many characteristics with fellow COMECON member states — the East German economy stood in stark contrast to the market and mixed economies of Western Europe ...
The merging of the former GDR Eastern States, also known as the New Länder, with West Germany's market produced significant economic pressure on the German welfare state Germany's conservative model welfare state was sustainable under the economic conditions of pre-unification but had trouble accommodating the increased costs associated with the integration of infrastructure, migration and ...
The economic policies were heavily oriented toward the world market, and the export sector continued to be very strong. [12] Prosperity was pulled along by exports that reached a record of $1.7 trillion US dollars in 2011, or half of the German GDP, or nearly 8% of all of the exports in the world.
Economy of Nazi Germany. Economy of Nazi Germany. Prisoner work force in the construction of the Valentin submarine pens for U-boats, in 1944. Location. The Third Reich and German-occupied Europe; forced labor predominantly from Nazi-occupied Poland and the Nazi-occupied Soviet Union. Period. Great Depression and World War II (1933–1945)
The economic history of World War I covers the methods used by the First World War (1914–1918), as well as related postwar issues such as war debts and reparations. It also covers the economic mobilization of labour, industry, and agriculture leading to economic failure. It deals with economic warfare such as the blockade of Germany, and with ...